Daily Sabah logo

Politics
Diplomacy Legislation War On Terror EU Affairs Elections News Analysis
TÜRKİYE
Istanbul Education Investigations Minorities Expat Corner Diaspora
World
Mid-East Europe Americas Asia Pacific Africa Syrian Crisis Islamophobia
Business
Automotive Economy Energy Finance Tourism Tech Defense Transportation News Analysis
Lifestyle
Health Environment Travel Food Fashion Science Religion History Feature Expat Corner
Arts
Cinema Music Events Portrait Reviews Performing Arts
Sports
Football Basketball Motorsports Tennis
Opinion
Columns Op-Ed Reader's Corner Editorial
PHOTO GALLERY
JOBS ABOUT US RSS PRIVACY CONTACT US
© Turkuvaz Haberleşme ve Yayıncılık 2023

Daily Sabah logo

عربي
  • Politics
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • Elections
    • News Analysis
  • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Expat Corner
    • Diaspora
  • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • Islamophobia
  • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
  • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
  • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Reviews
    • Performing Arts
  • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
  • Gallery
  • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
  • TV

Apple's earnings drop significantly in 2016's fourth quarter

by Daily Sabah with AA

ISTANBUL Oct 26, 2016 - 12:00 am GMT+3
No Image
by Daily Sabah with AA Oct 26, 2016 12:00 am

Apple's revenues declined significantly in the fourth quarter of fiscal year 2016 compared to the same period a year ago, the company said Tuesday.

The device maker earned a net income of $9 billion from revenues of $46.9 billion from July to September. Investors earned $1.67 per share, about one cent above most analysts' expectations. During the same period in 2015, Apple had a net income of $11.1 billion off $51.5 billion in revenues, and investors earned $1.96 per share.

"Our strong September quarter results cap a very successful fiscal 2016 for Apple," chief executive Tim Cook said in a statement. "We're thrilled with the customer response to iPhone 7, iPhone 7 Plus and Apple Watch Series 2, as well as the incredible momentum of our Services business, where revenue grew 24 percent to set another all-time record."

Apple said it sold 45.5 million iPhones across the globe during the quarter, with sales down about 5 percent from the 48 million units during the same period in 2015.

Showcasing the international appeal of its products, the company noted that 62 percent of the quarter's sales were from outside the United States. Sales in Europe and Japan increased compared to a year ago, while sales in the Americas fell slightly. China has proven a difficult market for Apple to crack; sales there declined 30 percent year-over-year.

Stocks of Apple closed at $118.25, about half a percent up from the previous day. Once the earnings report was released after the close of markets, however, after-hours trading was turbulent and shares dipped more than 2 percent.

Apple believes it will earn revenues between $76 billion and $78 billion next quarter, an increase from $75.9 billion earned in the first quarter of 2016. The first fiscal quarter, which encompasses the busy holiday shopping season, is usually the strongest of the year for Apple.

  • shortlink copied
  • Last Update: Oct 26, 2016 2:07 am
    RELATED TOPICS
    fight-against-terrorism DEUTSCHE-BANK US-LIBYA-RELATIONS
    KEYWORDS
    business
    The Daily Sabah Newsletter
    Keep up to date with what’s happening in Turkey, it’s region and the world.
    You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    No Image
    Middle East Film and Comic Con 2022: Some funky costumes
    PHOTOGALLERY
    • POLITICS
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • News Analysis
    • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Diaspora
    • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • İslamophobia
    • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
    • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
    • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Performing Arts
    • Reviews
    • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
    • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
    • Photo gallery
    • Jobs
    • privacy
    • about us
    • contact us
    • RSS
    © Turkuvaz Haberleşme ve Yayıncılık 2021